Drops In Patient Volume Put Dent In Verity Health System’s Revenue
Verity reported an operating loss of $70.7 million on $662.2 million in total revenue for the six-month period ended Dec. 31, compared with an operating loss of $35.2 million on $749.9 million in revenue during fiscal 2015.
Verity Health System's Struggles Remain Patient Volume, Payment Rates
Blue Mountain Capital Management, the private equity firm that took over Daughters of Charity Health System last year, has its work cut out for it to turnaround the struggling hospital group. A financial report filed late last week shows that Daughters, now known as Verity Health System after the Dec. 14 deal closing, continued to face operating challenges during the six months it waited for the agreement to be finalized. (Kutscher, 3/8)
In other news, Midtown Ventura Community Council will discuss two hospital projects at this week's meeting —
The Ventura County Star:
Midtown Ventura Community Council Meeting To Focus On Hospital Projects
City residents can get an update on two hospital projects during the monthly meeting of the Midtown Ventura Community Council on Thursday. Community Memorial Hospital CEO Gary Wilde and Joan Araujo, Ventura County Health Care Agency chief deputy director, who is overseeing construction at the county's medical center, will attend the meeting. (Martinez, 3/9)